Tue, 24th Jun 2025

In this week's Superannuation News Wrap, Paige Estritori discusses the ongoing scrutiny around APRA's proposed role in board appointments. CPA Australia and CA ANZ raise concerns about APRA's potential veto power, advocating for consultative rather than mandatory roles. Next, Paige covers the tense debate around potential tax amendments on super balances exceeding $3 million, a move viewed as potentially discouraging wealth transfer. She then highlights the Superannuation Guarantee increase from 9.5% to 12%, providing a notable boost in retirement savings for the young population but also underlines the dire need for better financial literacy. Other topics include reforms on unclaimed superannuation of foreign workers and APRA's tightened cybersecurity protocols for superannuation fund trustees. Overall, these developments underline the dynamic nature of the superannuation landscape.